2,2'-Bis(diphenylphosphino)-1,1'-binaphthyl (BINAP) has become an important chiral ligand for catalytic asymmetric induction. Its wide application has been somewhat limited due to the scarce supply. The present invention relates to a simple and inexpensive process for the synthesis of BINAP derivatives in which the naphthyl groups are substituted, avoiding the necessity of multistep syntheses and minimizing the formation of secondary products.